s&p global ratings affirmed the financial strength rating and issuer credit rating of taiping reinsurance co. ltd. (tpre) at “a” with a stable outlook in a report published on 7 january. this is the tenth consecutive year that tpre has received “a” rating from s&p.
according to s&p, tpre is assessed as a core subsidiary of china taiping insurance group. the rating reflects that tpre plays a key role in the internationalization strategy of china taiping insurance group and provides reinsurance support as well as regional insurance market insights to the group's affiliates.
s&p says that tpre shares its parent’s “taiping” branding and benefits from a strong long-term commitment of parental support in terms of asset management, capital, information technology, and risk management governance. the strategic investor ageas insurance international nv(ageas) is expected to bring in expertise in risk management and corporate governance, and tpre will gradually facilitate the group’s expanding international footprint through increasing collaboration with ageas.